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OXEA chooses TIS as its central payment platform

Walldorf, December 12, 2018

OXEA recently decided to use TIS as its central payment platform and will be introducing the modules BAM (Bank Account Manager), BSM (Bank Statement Manager) and BTM (Bank Transaction Manager) throughout the group.

OXEA is a leading specialty chemicals group based in Monheim and follows other chemical companies that have opted for TIS, such as LANXESS and ARLANXEO.

Oxo products are OXEA’s core area of expertise. With a production capacity exceeding 1.3 million metric tons per year and annual sales of approx. 1.3 billion euros, OXEA manufactures over 70 oxo chemicals for a wide range of industries and applications. With a global workforce of around 1,400 people, OXEA produces intermediates and derivatives for the products we use every day. OXEA’s production sites are located in Germany, the USA, China and the Netherlands.

Thomas Richard Merz, Treasury Director at OXEA, had this to say about the company’s requirements: “OXEA decided in favor of TIS because this software solution proved to be the most secure and compliant choice during the selection process. High IT security standards and an international scope are the most important criteria when the company launches new software. Therefore, the IT and Treasury departments at OXEA together decided that TIS fully meets these internal requirements.”

Other challenges that the TIS Solution solves at OXEA include the collaboration of the global Treasury unit in Monheim with the decentralized units, the seamless connection to the SAP system and the audit-compliant authorization concept.

Jörg Wiemer, CEO at TIS: “With our very high security standards and our ISO and SOC certifications – which, particularly for the OXEA colleagues in the USA, are an important benchmark and represent a high standard of security – we were able convince the decision makers of our new MAJOR customer and are very happy that the TIS community is growing. We look forward to working together for many years to come.”

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